Inside the Financial Crash:Create a chart summarizing the details of the investment for both Bob and Lisa.

Inside the Financial Crash

After watching the Inside the Financial Crash video, how did this financial crash impact you, your family, a career you may have been laid-off from, and/or someone you know that were affected? 

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2.)Respond to Student Briandrick

Class,

The 2007 finical impact affected my aunt in a big way. She had just purchased a 5 bedroom two story house in 2004 located New York. She was a victim of the add on to your mortgage if you don’t pay. She was always bragging about how here house payment were so cheap despite living in New York, but she failed to realize she was only paying the minimum amount required to be payed on the loan. In 2009 she realized that she 20,000 thousand behind on her mortgage payment due to lending company keep adding to loan rather than reaching out and trying to make here pay more to get the loan current. Luckily the bank she was with help her refinance her house but it was just like she started all over with her payment again. The 2007 finical crisis is the reason it so hard to get car and loan at good interest rate today. I can only wonder what the economy would be like if this crisis never happened.

3.)WEEK 5 HOMEWORK: TEXTBOOK (70 PTS)

 

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There are three (3) types of textbook based homework items located at the end of each chapter. These include Discussion Questions (DQ), Exercises (E), and Problems (P). Some homework items have been custom created.

Complete the following from the textbook:

Chapter 9: P6, P9, P10, P11, P12, P13, P15

4.)There are three (3) types of textbook based homework items located at the end of each chapter. These include Discussion Questions (DQ), Exercises (E), and Problems (P). Some homework items have been custom created.

Complete the following from the textbook:

Chapter 8: DQ1

5.)There are three (3) types of textbook based homework items located at the end of each chapter. These include Discussion Questions (DQ), Exercises (E), and Problems (P). Some homework items have been custom created.

Complete the following homework scenario: 

  • Bob and Lisa are both married, working adults. They both plan for retirement and consider the $2,000 annual contribution a must.

    First, consider Lisa’s savings. She began working at age 20 and began making an annual contribution of $2,000 at the first of the year beginning with her first year. She makes 13 contributions. She worked until she was 32 and then left full time work to have children and be a stay at home mom. She left her IRA invested and plans to begin drawing from her IRA when she is 65.

    Bob started his IRA at age 32. The first 12 years of his working career, he used his discretionary income to buy a home, upgrade the family cars, take vacations, and pursue his golfing hobby. At age 32, he made his first $2,000 contribution to an IRA, and contributed $2,000 every year up until age 65, a total of 33 years / contributions. He plans to retire at age 65 and make withdrawals from his IRA.

    Both IRA accounts grow at a 7% annual rate. Do not consider any tax effect.

  • Write a two to three (2-3) paragraph summary in which you:
    • Create a chart summarizing the details of the investment for both Bob and Lisa.
    • Explain the results in terms of time value of money.
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